Some Overlooked Retirement Perks for the Over-50 Set

5/5/2014 12:06PM

Most people over 50 years of age know about the "senior" discounts they can get on travel, restaurants and the like. But many don't know that there are also investment perks for the over-50 set. WSJ's Lindsay Gellman joins MoneyBeat with more details. Photo: Getty

This transcript has been automatically generated and may not be 100% accurate.

... been been been been been been BdB ... I almost people over fifty know about the senior discounts they can get in trouble restaurant fall back on a stop in at the grocery store ... a senior Tuesday's ... to pressure the typical them aggressors procedures that bought many don't know is that there are also investment perks for the over fifty cent and Lindsay Gellman is here to talk about it ... I'd say my my first complaint about the story ... is I don't like the sunlight that seniors are fifty ... and now a little too could signal I ... and see ... but it's good news for investors the right let's talk about this ... what kinds of investments are available is it because you're considered a senior they get so fed deal why why are there what deals or the market ... so that the deal studies fifty in a swift progress of the ... aam allow you to do more and more things with your investments ... Sunday's fifteen you can start making catch up contributions to retirement accounts like four when he said I areas ... and on the Hunter percent sure but I'd I do think that there to try to encourage people to save enough for retirement Seville the stuff in as much money as they can before they hit full retirement so that the thought that you you blew your twenties and thirties going out party and injuring Kinahan arousing ... odd night got me that's yet to catch up ... ok seems rational ... Ocwen also mostly ... so then at age fifty five you can add tapped your employer based plans to like for a one k or four three D ... on the calendar year you turn fifty five ... aam but only if you would have retired ... were laid off for a quick so if you need your job for any reason other than the being fired ... on and you can tell that employer peace plan emissary can do that without previously viewed done that you got a really big tax hit ... is that the whole point of no you don't get that that I think that's the idea ... okay let's ... move on get old they get older the return ... of fifty nine ... so when you start you when you turn fifty nine in the house that so to hearing ... aids on it seemed to teach on ... distributions of penalty free for most retirement accounts so ... you can start tapping the for one k and IRA ... on ... regardless of whether you're still working ... on and you can start accessing the satanic apps without penalty to ... and and I'm ... it's moving right along to the golden years is up five c a ... sixty five ... still bearing on the second is that still very up sixty five was that you can ... withdraw funds from a health savings accounts ... on Twitter for nonmedical peace and so you should be in ... your seating in that account to pay for medical reasons but now you can tap it for non medical reasons without the penalty in and and when you turn seventy ... write it oral FPO cost but here I'll return seventy you can do what ... still at age seventeen at half and this one is on we're not sure yet whether this will be in effect on in the coming years this is of of will that God ... has it was an extended but we hope that it will be getting ... on and basically it allows ... I eerie holders to transfer funds directly from the IRA count to charity ... and it's something that aam was very popular in the past was an extended ... on it but we're hoping that Congress will to topics and again cuz it's good for investors